Joint-owned property refers to real estate owned by two or more individuals, where each person holds a share in the asset. This arrangement is popular among spouses, families, and business partners as it ensures shared rights, responsibilities, and smoother succession. In India, joint ownership also helps with tax planning and wealth distribution. Depending on the ownership type, co-owners may have equal or defined shares.
While property investments are often seen as long-term, pairing them with secure financial tools like a Bajaj Finance Fixed Deposit (FD) can provide stability and guaranteed returns—ensuring both your property and cash flows are working for you.
Types of joint ownership of property
There are multiple ways property can be jointly owned in India, each with its own rules for rights and succession:
Joint tenancy – Equal rights for all co-owners. If one passes away, their share automatically goes to the surviving owners.
Tenancy in common – Ownership shares can be unequal, and a deceased owner’s share passes to their heirs.
Tenancy by entirety – For married couples only. The property automatically transfers to the surviving spouse.
Co-ownership under partnership – Business partners own the property through a firm, with defined shares.
Ancestral property ownership – Inherited under Hindu Undivided Family (HUF) rules; every family member has a share.
Community property ownership – In certain states, property acquired during marriage is equally owned by both spouses.
Company-owned property – Real estate held by a company, managed according to shareholding.
Leasehold joint ownership – Multiple people lease property jointly, with rights defined by the lease agreement.
Along with property, you can also secure your liquid savings with a Bajaj Finance FD. It offers assured returns, unlike real estate, where market conditions may affect liquidity. Check FD rates.
